Real Estate, travel, Vacation

Top Three Reasons to Move to the Cayman Islands

Summary: Learn the benefits of owning real estate in the Cayman Islands.

Everyone knows that the Cayman Islands have sun nearly all year long. Most people also know about our crystal blue waters, rich diving community and outdoor destinations. Those are all great reasons to visit, but not great reasons to live here. Grand Cayman is far more than just a tourist destination, there are clear benefits to purchasing Grand Cayman homes.

Tax-Free Property

When you purchase property in the Cayman Islands, you pay a duty at the time of sale. The duty is a fee that the government collects during the transaction. It’s the only fee they collect, as long as you hold the property. Plus, you can pass the property onto children with nothing more than a stamp duty. That ease of transfer makes Cayman properties an attractive investment.

Mainland Living on a Remote Island

The Cayman Islands are just far enough away from everything, about 585 from Georgetown to Florida. Far enough not to see anything but the horizon, to get amazing blue waters and perfect sun. Close enough to have all the comforts of home. The only big difference you’re likely to notice about Cayman Islands shopping is the emphasis on diving gear.

Passive Income

Along with tax-free property comes the opportunity for passive income opportunities. The reality of Cayman Islands homes for sale is that not every home owner chooses to live here. Some have demands elsewhere, others just want a place to stay during business or on vacation. Whatever your interest, you can hold your property and rent it out for tax-free income on short-term stays.

Bio: James Bovell is the Cayman Islands real estate expert. James Bovell works with Dream Finders, a Re/MAX sales office based out of the Cayman Islands.